Under the current system, contribution rates would be arranged according to the year an employee started: 0.8% in 2012 or before; 3.1% if hired in 2013, and 4.4% if hired in or since 2014. The change would have employees pay 4.4% of their salary, which could raise $30.7 billion over a decade, according to the statement.

However, this new proposal has now been struck from the latest version of the House Budget Committee.

Other changes that were being proposed included eliminating the Federal Employees Retirement System (FERS) “additional retirement annuity payment for those eligible to retire before age 62” and are unable to yet collect Social Security benefits,” according to the proposal (except those in federal occupations subject to mandatory early separation), as well as auditing family members of federal employees to see if they are eligible for health benefits on their family member’s health coverage.

This special FERS retirement supplement provides a portion of income before age 62, similar to what retirees would have received in a Social Security benefit had they attained age 62 and applied for Social Security benefits. However, the legislation approved by the House Budget Committee modified this proposal by grandfathering in current recipients of the annuity supplement. Essentially, it would not apply to those who were already entitled to an annuity supplement before the enactment date of this legislation.

In addition, if the legislation were to become law, it would not take effect until January 1, 2028, and would not apply to any individuals entitled to the annuity supplement under law prior to that date.

Another proposal that did get saved in the tax bill includes a unique proposal to establish so-called “MAGA” savings accounts for children by giving newborns $1,000 from the federal government.

The pilot program — described as the “Money Account for Growth and Advancement” or “MAGA account” — would give the parents of every baby with a Social Security number born between the beginning of 2025 and the end of 2028 a “one-time credit of $1,000.”  That money will then accumulate interest and value through investments over time.

Related: GOP House tax bill includes a ‘401(k) for kids,’ giving newborns $1,000

“This is essentially a 401(k) for every newborn in America, and just like with 401ks, employers have seen it is a very attractive benefit for their employees to match or help seed those savings accounts,” said Senator Ted Cruz (R-TX), who is behind the so-called MAGA Accounts provision.

The tax bill still has to get through Congress, with Republicans holding razor-slim majorities in both the House and Senate, and the plan is likely to be revised if it remains in the bill at all.House Speaker Mike Johnson has set a deadline before the May 26 Memorial Day holiday to pass Trump's bill, with a Senate vote to follow.